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Singapore MarketBeat Reports

Xian Yang Wong • 10/04/2025

OFFICE MARKETBEAT

Despite an increase in vacancy rates to 5.8% in Q1 2025 (from 4.7% in Q4 2024), CBD Grade A office rents grew 0.6% qoq. The rise in vacancy rates was due to new supply from Keppel South Central. Leasing activities saw a moderate pickup, driven by financial firms and co-working operators. Occupiers remain cautious but continue to seek quality spaces.

INDUSTRIAL MARKETBEAT

Prime logistics rents remained flat in Q1 2025, despite a rise in vacancy rates to 5.8% due to new supply. Major new developments like Punggol Digital District (65% pre-committed) and 1 Science Park Drive (76% occupied, 19% under advanced negotiations) have seen strong take-up rates, reflecting continued demand for quality spaces.

RETAIL MARKETBEAT

Islandwide prime retail rents grew by 0.4% qoq to $29.90 psf/mo in Q1 2025, driven by limited quality supply and resilient demand from tourism recovery. Suburban prime rents saw the strongest growth at 0.2% qoq, compared to Orchard and Other City Areas which increased by 0.5% and 0.7% qoq respectively.

CAPITAL MARKETS MARKETBEAT

Total investment volumes fell 17.4% qoq to $6.4 billion (b) in Q1 2025, led by the residential sector ($3.7b) followed by commercial ($1.5b) and mixed/others ($0.8b) sectors. The bulk of residential investment sales volume came from the public market, with five Government Land Sales (GLS) sites sold. Notable transactions included Frasers Centrepoint Trust’s acquisition of Northpoint City South Wing for $1.2b and Bain Capital’s purchase of Avery Lodge for $750m.

Learn more by downloading our latest Singapore MarketBeat reports below.

CURRENT MARKETBEATS

Office Buildings CBD
MarketBeat

Office MarketBeat Report

The constrained supply pipeline, combined with emerging demand, would continue to support CBD Grade A office rents.
Xian Yang Wong • 10/04/2025
Warehouse Internal Rack
MarketBeat

Industrial MarketBeat Report

Industrial property rents continued to show diverging performance in Q1 2025.
Xian Yang Wong • 10/04/2025
Shopping Retail
MarketBeat

Retail MarketBeat Report

Singapore retail trade sector contracted by 0.4% yoy in 2024, weighed down by more cautious spending amid high cost and global uncertainties.
Xian Yang Wong • 10/04/2025
Warehouse Internal Rack
MarketBeat • Investment / Capital Markets

Investment MarketBeat Report

Industrial investment sales fell sharply by 91% qoq due to the absence of large deals.
Xian Yang Wong • 10/04/2025

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